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GeneDx (WGS) - 2022 Q4 - Annual Report
2023-03-15 16:00
Financial Performance - Total revenue for the year ended December 31, 2022, was $234.694 million, a 10.5% increase from $212.195 million in 2021[545]. - Diagnostic test revenue reached $227.334 million in 2022, up from $205.100 million in 2021, reflecting an increase of 10.5%[545]. - The company reported a net loss of $548.980 million for 2022, compared to a net loss of $245.390 million in 2021, indicating a significant increase in losses[545]. - Net loss for the year ended December 31, 2022, was $548.98 million, compared to a net loss of $245.39 million in 2021, representing a 123% increase in losses year-over-year[552]. - The total other income, net, was $69.620 million in 2022, a decrease from $200.759 million in 2021[545]. - The company incurred an impairment loss of $210.145 million in 2022, which was not present in 2021[545]. - The company reported a significant increase in the cost of services, totaling $261.444 million in 2022, compared to $228.797 million in 2021, reflecting a rise of 14.2%[545]. Cash and Liquidity - Cash and cash equivalents decreased from $400.6 million in 2021 to $123.9 million in 2022, a decline of approximately 69%[540]. - Cash, cash equivalents, and restricted cash at the end of 2022 were $138.30 million, down from $401.47 million at the end of 2021, indicating a decrease of 65%[553]. - Net cash used in operating activities increased to $319.16 million in 2022 from $190.43 million in 2021, reflecting a 68% increase[552]. - The company has not drawn any amounts under the SVB Agreement as of December 31, 2022, indicating a cautious approach to leveraging credit[530]. Assets and Liabilities - The company reported a total asset value of $490.9 million as of December 31, 2022, down from $554.1 million in 2021, a decrease of about 11%[540]. - Total current liabilities rose from $101.3 million in 2021 to $144.3 million in 2022, an increase of approximately 42%[540]. - The accumulated deficit increased significantly from $575.4 million in 2021 to $1.1 billion in 2022, reflecting a rise of about 95%[542]. - Total stockholders' equity decreased from $388.1 million in 2021 to $253.7 million in 2022, a decline of approximately 35%[542]. Expenses - Research and development expenses were $86.203 million in 2022, down from $105.162 million in 2021, representing a decrease of 18.0%[545]. - Selling and marketing expenses increased to $134.913 million in 2022, up from $112.738 million in 2021, marking a rise of 19.6%[545]. - Stock-based compensation expense decreased to $41.98 million in 2022 from $219.42 million in 2021, a reduction of 81%[552]. Acquisitions and Related Costs - The Company completed the Acquisition of Legacy GeneDx on April 29, 2022, paying $140.5 million in cash and issuing 80 million shares valued at $172 million[633]. - The total aggregate purchase price for the Legacy GeneDx Acquisition was $364.5 million, which includes $52.0 million in earn-out potential based on revenue milestones[634]. - The Company incurred $12.1 million in acquisition-related costs for the Legacy GeneDx Acquisition, reflected in general and administrative expenses[638]. Stock and Equity - The weighted average shares outstanding for Class A common stock increased to 337,819,680 in 2022 from 108,077,439 in 2021[545]. - Basic and diluted net loss per share for Class A common stock improved to $(1.63) in 2022 from $(2.27) in 2021[545]. - As of December 31, 2022, there were 388,511,138 shares of Class A common stock issued and outstanding, compared to 242,647,604 shares as of December 31, 2021[718]. Taxation - For the year ended December 31, 2022, the total income tax benefit recorded by the company was $49,052,000[719]. - The effective tax rate for the company for the year ended December 31, 2022, was 8.2%[719]. - The company experienced a significant increase in domestic tax expense from $(245,390,000) in 2021 to $(598,136,000) in 2022[719]. Impairments and Reserves - The Company recorded a $22.5 million impairment charge for inventory in the fourth quarter of 2022 due to the planned exit from Legacy Sema4 testing services[579]. - Goodwill was fully written off with an impairment loss of $174.5 million for the year ended December 31, 2022, as indicators suggested fair value was less than carrying value[585]. - The Company recorded an impairment charge of $10.0 million related to excess office space as of December 31, 2022[684]. Future Obligations and Contingencies - The Company has up to $150 million in contingent payments related to the Acquisition of Legacy GeneDx, based on revenue milestones for 2022 and 2023[600]. - The first Milestone Payment of $112.5 million is contingent upon the Legacy GeneDx group achieving revenue of at least $163 million for fiscal year 2022, while the second Milestone Payment of $37.5 million is based on achieving $219 million for fiscal year 2023[601]. - The Company accrued $39.0 million for potential recoupments of payments previously made by third-party payors as of December 31, 2022[647].
GeneDx (WGS) - 2022 Q3 - Earnings Call Transcript
2022-11-15 03:46
Sema4 Holdings Corporation (SMFR) Q3 2022 Earnings Conference Call November 14, 2022 8:30 AM ET Company Participants Joel Kaufman - VP, Finance & Corporate Development Katherine Stueland - CEO & Director Kevin Feeley - SVP, Operations & CFO Conference Call Participants Mark Massaro - BTIG David Delahunt - Goldman Sachs Operator Welcome to the Sema4 Third Quarter 2022 Earnings Conference Call. My name is Cheryl, and I will be your operator for today's call. [Operator Instructions]. I will now turn the call o ...
GeneDx (WGS) - 2022 Q3 - Quarterly Report
2022-11-13 16:00
For the quarterly period ended September 30, 2022 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from __________ to __________ Commission file number 001-39482 Sema4 Holdings Corp. FORM 10-Q (Mark One) x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 (Exact name of registrant as specified in its charter) (State or other juri ...
GeneDx (WGS) - 2022 Q2 - Earnings Call Transcript
2022-08-16 01:29
Sema4 Holdings Corp (SMFR) Q2 2022 Earnings Conference Call August 15, 2022 4:30 PM ET Company Participants Joel Kaufman - VP, Finance & Corporate Development Katherine Stueland - CEO & Director Kevin Feeley - SVP, Operations and Head of GeneDx Conference Call Participants David Delahunt - Goldman Sachs Group Matt Kim - Jeffrey Max Masucci - Cowen and Company Mark Massaro - BTIG Operator Good day, and thank you for standing by. Welcome to the Sema4 Second Quarter 2022 Earnings Conference Call. [Operator Ins ...
GeneDx (WGS) - 2022 Q2 - Earnings Call Presentation
2022-08-16 00:19
2Q 2022 Earnings Presentation August 2022 sema4 Disclaimer 2 This presentation contains forward-looking statements under the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are statements that do not relate to historical facts and events and such statements and opinions pertaining to the future that, for example, contain wording such as "may," "might," "will," "could," "would," "should," "expect," "intend," "plan," "objective," "anticipate," "believe," "estimate," ...
GeneDx (WGS) - 2022 Q2 - Quarterly Report
2022-08-14 16:00
FORM 10-Q OR (Mark One) ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 For the transition period from __________ to __________ Commission file number 001-39482 For the quarterly period ended June 30, 2022 Sema4 Holdings Corp. (800) 298-6470 Registrant's telephone number, including area code (Former name, ...
Sema4 Holdings (SMFR) Investor Presentation - Slideshow
2022-06-13 09:13
sema4 Investor Presentation y: 188 June 2022 Disclaimer This presentation contains forward-looking statements under the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are statements that do not relate to historical facts and events and such statements and opinions pertaining to the future that, for example, contain wording such as "may," "might," "will," "could," "would," "should," "expect," "intend," "plan," "objective," "anticipate," "believe," "estimate," "pre ...
GeneDx (WGS) - 2022 Q1 - Earnings Call Presentation
2022-05-13 19:12
sema4 Investor Presentation gift May 2022 Disclaimer This presentation contains forward-looking statements under the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are statements that do not relate to historical facts and events and such statements and opinions pertaining to the future that, for example, contain wording such as "may," "might," "will," "could," "would," "should," "expect," "intend," "plan," "objective," "anticipate," "believe," "estimate," "predic ...
GeneDx (WGS) - 2022 Q1 - Earnings Call Transcript
2022-05-13 02:52
Sema4 Holdings Corp. (SMFR) Q1 2022 Earnings Conference Call May 13, 2022 4:30 PM ET Company Representatives Katherine Stueland - Chief Executive Officer Eric Schadt - Founder, President and Chief R&D Officer Isaac Ro - Chief Financial Officer Joel Kaufman - Vice President of Finance and Corporate Development Conference Call Participants Mark Massaro - BTIG Max Masucci - Cowen and Company Dave Delahunt - Goldman Sachs Operator Good day! And thank you for standing by. Welcome to the Sema4 First Quarter 2022 ...
GeneDx (WGS) - 2022 Q1 - Quarterly Report
2022-05-11 16:00
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from __________ to __________ Commission file number 001-39482 Sema4 Holdings Corp. (Exact name of registrant as specified in its charter) (State or other jurisdic ...